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EXHIBIT 10.3
AMENDMENT NO. 2 TO OFFICE BUILDING
TRIPLE NET LEASE
THIS AMENDMENT NO. 2 TO OFFICE BUILDING TRIPLE NET LEASE is made and
entered into this _________ day of_____________________ , 1993, to be effective,
however, as of ____________, 1993, by and between XXXX X. XXXXXXXX, XX. and
XXXXXX X. XXXXXXXX, husband and wife, as Lessor, and TELECT, INC., a Washington
corporation, as Lessee.
The parties hereto do hereby amend, effective as of ______________ 1993,
that certain Office Building Triple Net Lease between Lessor and Lessee, bearing
the effective date of February 28, 1990, as previously amended by that certain
Amendment No. 1 to Office Building Triple Net Lease dated January 20, 1993, as
follows:
1. Section 1 thereof is hereby amended in its entirety to read as
follows:
"1. Premises. Lessor hereby leases unto lessee and lessee
hereby leases from lessor, for the term and under the conditions
hereinafter set forth, those certain parcels of real property
(hereinafter called "Premises") legally described in the attached
Schedule III, including all structures and fixtures upon said
Premises and all easements and other rights appurtenant to said
Premises, including but not limited to non-exclusive rights to
ingress, egress, and parking in adjacent common areas."
2. Section 4 thereof is hereby amended in its entirety to read as
follows:
"4. Monthly rental. Lessee shall, during the lease term, pay
to lessor at East 23003 Euclid, Xxxx Xxxxxxxx, Xxxxxxxxxx 00000,
or such other place as lessor shall designate in writing from
time to time, without setoff or deduction for any reason
whatsoever, a monthly rental in the amount of Twenty Eight
Thousand Dollars ($28,000.00). The monthly rental shall be
prorated for partial months falling within the lease term, and
shall be payable in advance on or before the first day of each
calendar month during the lease term. If any rent payment is not
received by lessor within five (5) days after the due date (or on
the next business day if the fifth day is not a business day),
then lessee shall pay as additional rent the sum of five percent
(5%) of the delinquent payment for each month or a portion
thereof that the payment remains overdue. Notwithstanding
anything else herein to the contrary, upon completion and
occupancy of the new office building to be constructed on the
Premises, said monthly rental shall be increased as mutually
agreed upon between lessor and lessee; and, provided further,
that upon completion of the new manufacturing facility to be
constructed on the Premises, said monthly
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rental shall be further increased as mutually agreed upon between
lessor and lessee. If the parties hereto cannot agree on a new
monthly rental thirty (30) days prior to completion of the new
office building and/or new manufacturing facility, then the same
is to be submitted to arbitration in accordance with Section 29."
As herein amended, the parties hereto do hereby reaffirm and ratify all
of the terms and provisions of said Office Building Triple Net Lease, as
previously amended.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment No.
2 to Office Building Triple Net Lease on the date and year first above written,
to be effective, however, as of __________________________, 1993.
Lessors:
XXXX X. XXXXXXXX, XX. and
XXXXXX X. XXXXXXXX
By:
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Xxxx X. Xxxxxxxx, Xx.
By:
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Xxxxxx X. Xxxxxxxx
Lessees:
TELECT, INC., a Washington corporation
By:
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Xxxx X. Xxxxxxxx, Xx.
Its: President
By:
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Xxxxxx X. Xxxxxxxx
Its: Secretary/Treasurer
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STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that XXXX X.
XXXXXXXX, XX. is the person who appeared before me, and said person acknowledged
that he signed this instrument and acknowledged it to be his free and voluntary
act for the uses and purposes mentioned in the instrument.
Dated
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Notary Public in and for the State of
Washington, residing at Spokane
My Commission Expires:
---------------
STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that XXXXXX X.
XXXXXXXX is the person who appeared before me, and said person acknowledged that
she signed this instrument and acknowledged it to be her free and voluntary act
for the uses and purposes mentioned in the instrument.
Dated
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Notary Public in and for the State of
Washington, residing at Spokane
My Commission Expires:
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STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that XXXX X.
XXXXXXXX, XX. is the person who appeared before me, and said person acknowledged
that he signed this instrument, on oath stated that he was authorized to execute
the instrument and acknowledged it as the President of Telect, Inc. to be the
free and voluntary act of such party for the uses and purposes mentioned in the
instrument.
Dated
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Notary Public in and for the State of
Washington, residing at Spokane
My Commission Expires:
---------------
STATE OF WASHINGTON )
) ss.
County of Spokane )
I certify that I know or have satisfactory evidence that XXXXXX X.
XXXXXXXX is the person who appeared before me, and said person acknowledged that
she signed this instrument, on oath stated that she was authorized to execute
the instrument and acknowledged it as the Secretary/Treasurer of Telect, Inc. to
be the free and voluntary act of such party for the uses and purposes mentioned
in the instrument.
Dated
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Notary Public in and for the State of
Washington, residing at Spokane
My Commission Expires:
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OFFICE BUILDING
TRIPLE NET LEASE
LEGAL DESCRIPTION
PARCEL "E"
A parcel of land in the Southeast Quarter of Section 10, Township 25 North,
Range 45 E.W.M. described as follows:
BEGINNING at the Southeast corner of said Section 10; thence South
87(degrees)03'56" West along the South line of the Southeast Quarter of
said Section 10, a distance of 708.58 feet; thence North 03(degrees)
17'39" West a distance of 1129.61 feet to the true point of beginning;
thence North 03(degrees)17'39" West a distance of 255.00 feet; thence
North 87(degrees) 03'56" East a distance of 558.68 feet; thence North.
42(degrees)03'56" East a distance of 56.06 feet; thence North
87(degrees)03'56" East a distance of 50.00 feet to a line parallel with
and 60.00 feet West of the centerline of Xxxxxx Road, as said centerline
is shown on the final plat of HOMESTEAD TRADE CENTER, as per plat
thereof recorded in Volume 15 of Plats, page 9; thence South
03(degrees)17'39" East along said parallel line a distance of 294.64
feet; thence South 87(degrees)03'56" West a distance of 648.58 feet to
the true point of beginning;
Situate in the County of Spokane, State of Washington.
PARCEL "F":
A parcel of land in the Southeast Quarter of Section 10, Township 25 North,
Range 45 E.W.M., described as follows:
BEGINNING at the Southeast corner of said Section 10; thence South
87(degrees)03'56" West along the South line of said Southeast Quarter of
Section 10 a distance of 708.58 feet; thence North 03(degrees)17'36"
West a distance of 1384.61 feet to the true point of beginning; thence
North 03(degrees)17'39" West a distance of 190.00 feet; thence North
87(degrees)03'56" East a distance of 249.44 feet; thence North 59
(degrees)53'21" East, a distance of 43.79 feet; thence North
87(degrees)03'56" East a distance of 359.03 feet to a point on a
non-tangent curve concave to the West having a radius of 440.00 feet (to
which a radial line bears North 82(degrees)47'00" East and West of the
centerline of Xxxxxx Road, as said centerline is shown on the final plat
of HOMESTEAD TRADE CENTER, as per plat thereof recorded in Volume 15 of
Plats, page 9); thence Southerly along said curve through a central
angle of 03(degrees)55'21" an arc distance of 30.12 feet; thence South
03(degrees)17'39" East parallel with and 60.00 feet West of said
centerline of Xxxxxx Road a distance of 140.26 feet; thence South
87(degrees)03'56" West a distance of 50.00 feet; thence South
42(degrees)03'56" West a distance of 56.06 feet; thence South
87(degrees)03'56" West a distance of 558.68 feet to the true point of
beginning;
Situate in the County of Spokane, State of Washington.
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PARCEL "G":
A parcel of land in the Southeast Quarter of Section 10, Township 25 North,
Range 45 E.W.M. described as follows:
BEGINNING at the Southeast corner of said Section 10, thence South
87(degrees)03'56" West along the South line of said Southeast Quarter of
Section 10 a distance of 708.58 feet; thence North 03(degrees)17'39"
West a distance of 1574.61 feet to the true point of beginning; thence
North 87(degrees)03'56" East a distance of 249.44 feet; thence North
59(degrees)53'21" East a distance of 43.79 feet; thence North
87(degrees)03'56" East a distance of 359.03 feet to a point on a
non-tangent curve concave to the west having a radius of 440.00 feet (to
which a radial line bears North 82(degrees)47'00" East, and said curve
being parallel with and 60.00 feet West of the centerline of Xxxxxx
Road, as said centerline is shown on the final plat of HOMESTEAD TRADE
CENTER, as per plat thereof recorded in Volume 15 of Plats, page 9);
thence Northerly along said curve through a central angle of
22(degrees)53'14", an arc distance of 175.76 feet; thence North
30(degrees)06'14" West parallel with and 60.00 feet West of said
centerline of Xxxxxx Road a distance of 147.86 feet to the Southerly
margin of the former Chicago, Milwaukee, St. Xxxx and Pacific Railroad
right of way; thence South 59(degrees)53'21" West along said Southerly
margin a distance of 599.00 feet to a point which bears North
03(degrees)17'39" West from the true point of beginning; thence South
03(degrees)17'39" East a distance of 46.03 feet to the true point of
beginning;
Situate in the County of Spokane, State of Washington.
A parcel of land in the Southeast quarter of Section 10, Township 25 North,
Range 45 East, X.X., described as follows:
BEGINNING at the Southeast corner of said Section 10; thence South
87(degrees)03'56" West along the South line of said Southeast quarter of
Section 10 a distance of 708.58 feet; thence North 03(degrees)17'39"
West a distance of 874.61 feet to the True Point of Beginning; thence
North 03(degrees)15'39" West a distance of 255.00 feet; thence North
87(degrees)03'56" East a distance of 648.58 feet to a line parallel with
and 60.00 feet West of the centerline of Xxxxxx Road, as said centerline
is shown on the final plat of HOMESTEAD TRADE CENTER, as per plat
recorded in Volume 15 of Plats, Page 9, in the Auditor's Office of said
county; thence South 03(degrees)17'39" East, along said parallel line a
distance of 215.36 feet; thence South 87(degrees)03'56" West a distance
of 50.00 feet; thence South 42(degrees)03'56" West a distance of 56.06
feet; thence South 87(degrees)03'56" West a distance of 558.68 feet to
the True Point of Beginning;
Situate in the County of Spokane, State of Washington.
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